Parsons (NYSE:PSN) Upgraded at TD Cowen

Parsons (NYSE:PSN) was upgraded by analysts at TD Cowen to a “strong-buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. KeyCorp raised their price target on shares of Parsons from $116.00 to $122.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Truist Financial reduced their target price on shares of Parsons from $130.00 to $110.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Raymond James downgraded Parsons from a “strong-buy” rating to an “outperform” rating and set a $115.00 price target on the stock. in a research report on Wednesday, October 23rd. Robert W. Baird upped their target price on Parsons from $103.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group raised Parsons from a “neutral” rating to a “buy” rating and raised their target price for the stock from $103.00 to $111.00 in a report on Thursday, December 12th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Parsons presently has a consensus rating of “Buy” and an average price target of $108.88.

Parsons Trading Up 0.2 %

NYSE:PSN opened at $95.10 on Thursday. The company has a market capitalization of $10.10 billion, a P/E ratio of 144.09, a PEG ratio of 1.72 and a beta of 0.74. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47. Parsons has a 12 month low of $61.35 and a 12 month high of $114.68. The firm has a fifty day simple moving average of $102.37 and a 200-day simple moving average of $93.28.

Parsons (NYSE:PSN) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.07. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Parsons had a return on equity of 12.74% and a net margin of 1.21%. On average, equities research analysts anticipate that Parsons will post 3.02 earnings per share for the current year.

Institutional Trading of Parsons

Institutional investors have recently bought and sold shares of the business. True Wealth Design LLC purchased a new stake in Parsons in the 3rd quarter worth $30,000. V Square Quantitative Management LLC purchased a new stake in shares of Parsons during the third quarter worth about $33,000. Capital Performance Advisors LLP acquired a new position in shares of Parsons during the 3rd quarter worth about $45,000. DekaBank Deutsche Girozentrale purchased a new position in Parsons in the 3rd quarter valued at about $72,000. Finally, Optimum Investment Advisors acquired a new stake in Parsons in the 3rd quarter worth about $145,000. 98.02% of the stock is owned by institutional investors and hedge funds.

About Parsons

Parsons Corporation provides integrated solutions and services in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. The company operates through Federal Solutions and Critical Infrastructure segments. The Federal Solutions segment provides critical technologies, such as cybersecurity; missile defense; intelligence; space launch and ground systems; space and weapon system resiliency; geospatial intelligence; signals intelligence; environmental remediation; border security, critical infrastructure protection; counter unmanned air systems; biometrics and bio surveillance solutions to U.S.